Reserve Bank of Australia officials told a parliamentary hearing the governor flagged upside inflation risks and the deputy said the board is fully committed to the inflation target, signalling further tightening. UBS says September will not be the last hike and expects two additional rate rises, taking the cash rate to 4.85% — a path materially more hawkish than current market pricing. Markets price roughly a 70–75% chance of a 25bp RBA hike in September. If UBS’s view gains traction, the Austr

Reserve Bank of Australia officials told a parliamentary hearing the governor flagged upside inflation risks and the deputy said the board is fully committed to the inflation target, signalling further tightening. UBS says September will not be the last hike and expects two additional rate rises, taking the cash rate to 4.85% — a path materially more hawkish than current market pricing. Markets price roughly a 70–75% chance of a 25bp RBA hike in September. If UBS’s view gains traction, the Australian dollar and short‑end yields could rise further over coming months.